Bank of Montreal Can Purchases New Shares in Design Therapeutics, Inc. (NASDAQ:DSGN)

Bank of Montreal Can purchased a new stake in Design Therapeutics, Inc. (NASDAQ:DSGN) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 99,240 shares of the company’s stock, valued at approximately $629,000. Bank of Montreal Can owned 0.18% of Design Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in DSGN. Legal & General Group Plc grew its stake in Design Therapeutics by 28.0% in the 2nd quarter. Legal & General Group Plc now owns 3,247 shares of the company’s stock valued at $45,000 after acquiring an additional 711 shares during the period. Atom Investors LP purchased a new position in Design Therapeutics in the 1st quarter valued at $69,000. Schonfeld Strategic Advisors LLC purchased a new position in Design Therapeutics in the 1st quarter valued at $77,000. SG Americas Securities LLC purchased a new position in Design Therapeutics in the 1st quarter valued at $87,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Design Therapeutics by 15.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 19,306 shares of the company’s stock valued at $111,000 after purchasing an additional 2,617 shares in the last quarter. Institutional investors and hedge funds own 69.47% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DSGN. Wedbush lowered Design Therapeutics from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $19.00 to $6.00 in a report on Tuesday, August 15th. SVB Securities lowered Design Therapeutics from an “outperform” rating to a “market perform” rating and set a $6.00 price target on the stock. in a report on Tuesday, August 15th. Piper Sandler lowered Design Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $6.00 in a report on Tuesday. SVB Leerink reiterated a “market perform” rating and set a $6.00 price target on shares of Design Therapeutics in a report on Tuesday, August 15th. Finally, Royal Bank of Canada reduced their price target on Design Therapeutics from $7.00 to $4.00 and set a “sector perform” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.67.

Design Therapeutics Trading Up 1.3 %

Shares of DSGN opened at $2.32 on Thursday. The firm has a market cap of $129.89 million, a P/E ratio of -1.78 and a beta of 1.52. Design Therapeutics, Inc. has a 12-month low of $1.94 and a 12-month high of $15.52. The company’s 50-day moving average price is $2.28 and its 200 day moving average price is $4.60.

Design Therapeutics (NASDAQ:DSGN) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.05. Equities research analysts forecast that Design Therapeutics, Inc. will post -1.58 earnings per share for the current year.

Insider Activity at Design Therapeutics

In related news, Director Deepa Prasad acquired 12,000 shares of Design Therapeutics stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $2.31 per share, for a total transaction of $27,720.00. Following the acquisition, the director now owns 23,806 shares in the company, valued at $54,991.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Rodney W. Lappe bought 21,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was bought at an average cost of $2.35 per share, with a total value of $49,350.00. Following the transaction, the director now directly owns 133,024 shares in the company, valued at approximately $312,606.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Deepa Prasad bought 12,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $2.31 per share, with a total value of $27,720.00. Following the completion of the transaction, the director now owns 23,806 shares in the company, valued at $54,991.86. The disclosure for this purchase can be found here. 25.70% of the stock is owned by insiders.

Design Therapeutics Profile

Design Therapeutics, Inc a preclinical-stage biopharmaceutical company, engages in the development of therapies for the treatment of genetic diseases caused by nucleotide repeat expansions. The company's portfolio of products comprises Friedreich Ataxia, a monogenic, autosomal recessive, progressive multi-system disease that affects organ systems dependent on mitochondrial function, eventually leading to neurological, cardiac, and metabolic dysfunction; and Myotonic Dystrophy Type-1 (DM1), a dominantly-inherited, monogenic progressive neuromuscular disease affecting skeletal muscle, heart, brain, and other organs.